QIIC posts gain in gross written premium to QR316.6mn in 2017

Qatar Islamic Insurance has reported more than 1% year-on-year rise in gross written contribution (premium) of QR316.6mn in 2017.

The insurer, which reported a shareholders’ profit of QR61.9mn, has recommended 35% cash dividend to be approved by shareholders at the annual general assembly meeting.

The company’s earnings-per-share was QR4.13 compared to QR4.23 a year ago. The policyholders’ surplus registered more than 100% growth to QR16.2mn in 2017 compared to QR7.9mn in the previous year.

Sheikh Abdulla bin Thani al-Thani, chairman of Qatar Islamic Insurance, said the company would distribute, for the eighth consecutive year, 20% surplus to all the eligible policyholders for 2017. He said the board appreciated the management’s efforts in achieving these results despite a very challenging environment in 2017 due to negative impact of low oil prices on national economy.